AT&T announced on Wednesday it was acquiring virtually all of Lumen’s mass markets fiber business, in a $5.75 billion all-cash transaction that will help the telecom giant extend its reach to 60 million locations.

AT&T has clinched a deal to acquire Lumen Technologies' consumer fiber operations for $5.75 billion in cash, the companies said on Wednesday, as the wireless provider adds further scale to its national fiber footprint.

US telecom giant AT&T has agreed to purchase Lumen Technologies' consumer fibre business for $5.75bn in an all-cash deal. The transaction includes approximately one million fibre subscribers across more than four million fibre locations,